Daily Creative with Todd Henry
Early Bird, Second Mouse
Dec 3, 2024
Explore the intriguing debate of first vs. second to market. Discover how being second can offer insights from others' experiences. Dive into the art of storytelling, exemplified by Transformers’ success. Learn about blind spots in innovation that can hinder progress. Understand the value of combining product and strategic innovation. Finally, uncover how self-awareness can lead to better decision-making and a more effective approach in competitive spaces.
17:26
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Quick takeaways
- Being first to market can be less advantageous than being second, as learning from the first mover can refine one's approach.
- The success of products like Transformers underscores the power of storytelling and strategic marketing in capturing consumer attention.
Deep dives
The Transforming Toy Battle
In the early 1980s, a competition arose in the market for transforming robot toys, prominently featuring GoBots and Transformers. GoBots, developed by Tonka, initially set the stage with an established lineup, including well-known characters like Leader One and Psy-Kill, capturing consumer attention. However, Transformers, introduced by Hasbro in 1984, distinguished itself with a rich narrative created in partnership with Marvel Comics, enriching the characters and appealing to children's imaginations. Consequently, while GoBots had a first-mover advantage, it was the storytelling prowess of Transformers that ultimately led to its dominance.
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